Tips for Landlords: Rentals with Pools

Whether you own a single family home or a multi-unit complex with a pool, renting out the property comes with its own set of challenges once water is involved. Although a pool can increase the value of the property, allowing you to collect larger rents, it also means you are responsible for both the maintenance of the pool and the safety of your tenants.

Liability Concerns

Liability in a rental home or apartment due to a pool varies greatly depending on your municipality and state. You will need to make sure the pool is up to all local codes in regards to fencing and safety signage. You may also need to provide flotation devices and other safety equipment.

Check that your insurance policy has the proper liability coverage for the pool, as well. For private homes, you may also need to require tenants to carry renter's insurance with a pool rider attached. This rider will cover any damage done by the tenant to the pool.

Maintenance Concerns

In a multi-family unit, the landlord is responsible for pool maintenance. This may not be clear if you are renting a single family residence with a pool. Although you can require that the tenants care for the pool via the lease terms, you are taking a big chance. If the tenant fails to maintain the pool properly, or is unsure of what they are doing, they could cause major damage to your property. It's a better choice to take over pool maintenance for the renter.

Outside Management

Unless you want to be onsite weekly balancing the pool and taking care of its routine maintenance, your best solution is to hire a pool maintenance company. They will handle opening the pool in spring, checking and balancing the water weekly, and closing the pool properly in fall.

As an added benefit, they will also be on-call for any pool issues your tenants have, so you don't have to worry about late night phone calls. Most swimming pool management companies also perform routine safety inspections, so they will make sure any legal signage or safety devices are onsite and in proper working order.

Usually, the additional cost of both insurance and pool management are figured into the rental rate, so you aren't out any additional money. In areas where pools are in high demand, you may be able to squeeze even more prophet from a unit with a pool, even with the increased cost.